Market Live Updates Today: Trends on SGX Nifty indicate a negative opening for the index in India with an 33-points loss.

Market update at 12 PM: Sensex is up 50.22 points or 0.09% at 57174.53, and the Nifty added 9.20 points or 0.05% at 17013. Tech Mahindra, Power Grid and Cipla are the top gainers while IndusInd Bank, Asian Paints and Hindalco Industries are the top losers.

Among the sectors, metals and FMCG are trading in the red while the healthcare index index is trading higher.

HP Adhesives debuts with 16% premium at Rs 319 per share

HP Adhesives has started off the day on a strong note with the stock listing at a 16 percent premium over the issue price of Rs 274 per share, on December 27. It opened at Rs 319 on the BSE.

The offer was subscribed 20.96 times during December 15-17 as the portion set aside for retail investors saw a whopping 81.24 times subscription and that of non-institutional investors saw 19.04 times subscription. A part set aside for qualified institutional buyers was subscribed 1.82 times.

The price band for the public issue was Rs 262-274 per equity share.

India's forex reserves dip by $160 million to $635.67 billion

The country’s foreign exchange reserves declined by $160 million to stand at $635.667 billion in the week to December 17, RBI data showed on Friday. In the previous week ended December 10, the reserves had decreased by $77 million to $635.828 billion.

It touched a lifetime high of $642.453 billion in the week ended September 3, 2021. During the reporting week ended December 17, the dip in the forex kitty was on account of a decline in foreign currency assets (FCAs), a major component of the overall reserves.

FII and DII data

Foreign institutional investors (FIIs) net sold shares worth Rs 715 crore, while domestic institutional investors (DIIs) net offloaded shares worth Rs 43.24 crore in the Indian equity market on December 24, as per provisional data available on the NSE.

Travel booking website TBO.com files draft papers to raise Rs 2,100 crore via IPO

B2B travel booking website TBO.com’s parent company TBO Teck Ltd has filed draft papers with capital markets regulator Sebi to raise Rs 2,100 crore via an initial public offering (IPO). The IPO consists of a fresh issue of Rs 900 crore and an offer for sale (OFS) of Rs 1,200 crore by its existing shareholders and promoters.

The OFS comprises up to Rs 78.05 crore by Gaurav Bhatnagar, Rs 100 crore by LAP Travel Pvt Ltd, up to Rs 21.95 crore by Manish Dhingra, up to Rs 361.40 crore by TBO Korea Holdings Ltd, and up to Rs 638.60 crore by Augusta TBO Singapore Pte Ltd.

BofA expects 8.2% GDP growth for India next fiscal with more downside risks

Warning that the new year will be riskier than the previous two in terms of growth, inflation and the perils of monetary policy normalisation on consumption demand in particular, along with other external risks, a Wall Street brokerage has pencilled in an 8.2 percent GDP growth next fiscal, with more downside risks to the projection.

The biggest risk to the projection is a derailed consumption demand that has been the main growth driver in the past many years, said the Bank of America Securities India house economists who still believe that consumption demand will remain the key driver of growth next fiscal as well.

These economists expect higher growth next fiscal on the back of higher overall gross value add (GVA) growth due to the lower outgo onto subsidies next fiscal, along with stable agri growth at around 4 percent and robust services growth, adding up to an overall GVA growth of 7 percent, down from a likely 8.5 percent in FY22 and an 8.2 percent GDP growth in FY23, down from 9.3 percent in FY22.

World economy to top $100 trillion in 2022 for first time: Report

The world's economic output will exceed $100 trillion for the first time next year and it will take China a little longer than previously thought to overtake the United States as the number 1 economy in the world, a report showed on Sunday.

British consultancy Cebr predicted China will become the world's top economy in dollar terms in 2030, two years later than forecast in last year's World Economic League Table report.

India looks set to overtake France next year and then Britain in 2023 to regain its place as the world's sixth-biggest economy, Cebr said.

China proposes tighter rules but no ban for offshore listings

China's securities watchdog on Friday proposed tightening rules governing Chinese companies listing abroad, which it said would improve oversight while allowing them to continue to do so, the latest in a spate of regulatory moves by Beijing in 2021.

The draft rules, which had been keenly awaited by investors and were posted by the China Securities Regulatory Commission (CSRC) on its website, extend the CSRC's oversight of offshore listings to Chinese firms with variable interest entity (VIE) structures.

Oil prices mixed, US crude falls after COVID-19 flight cancellations

Oil prices were mixed on Monday, with Brent edging up while US crude futures slipped after airlines called off thousands of flights in the United States over Christmas holidays amid surging COVID-19 infections.

US West Texas Intermediate crude futures fell 41 cents, or 0.6%, to $73.38 a barrel by 0053 GMT. Brent crude rose 40 cents, or 0.5%, to $76.54 a barrel after settling down 0.92% on Friday.